Marketing Strategy
There are three things that will directly effect how fast and for how much your home sells. We have covered the first two items already:
- Price: As we said before, pricing a home correctly is art and science. If the price is too high, your home will sit on the market. Insider info: an over priced home will not be taken seriously by buyers, they will just look for a better match. The longer your home lingers in the market unsold, the more investors and bargain hunters will see your home as an opportunity to take advantage.
- Condition: Investing your energy and time into ensuring your property is presented in the best light can go a long way in attracting potential buyers. Condition is one of the factors you can control while in contrast you are not going to be able to market conditions, finance terms etc.
- Marketing: You have to think of your home as a product you’re marketing, not just as your home. Have you ever wondered why some beautiful properties don’t get sold for a long time? Great marketing strategy can result in more than sales price while poor strategies may lead to expired listings.
Your agent’s primary focus should be to create a lot of demand for your home in order to not only generate an offer, but also sell for the highest price possible at the shortest amount of time.
In order to create demand for a property, there must be a specific INDIVIDUAL written marketing plan. Every property is different in its own way, if your agent is not positioning your home specifically, you can be assured this is a “one size fits all” approach.
You can see how this approach is so unproductive since you are relying on pure luck to receive an offer. Think about all different types of homes exist in your area. For each property listed there will be a different kind of potential buyer. Many times agents get a bad reputation because most of them just market a property on the MLS and this does not generate the best results.
Do you know what happens when your agent does not have an effective marketing agenda? You end up with lowering the asking price. Selling for the highest price possible requires that you hire an agent with a proven track record of selling properties like yours, along with a written marketing plan.
There are two types of marketing plans which compliment each other:
Three P’s of Passive Marketing
- Put a sign in the Yard
- Professional Photography
- Put the Home in MLS
Active Marketing
- Extra professional pictures online
- Virtual tour online
- Staging
- Create a professional brochure/flyer
- Send post cards to neighbors notifying them your property is for sale
- Notify agents in her office, region and across the globe about the property
- Personally invite your neighbors to the open house/broker preview
- Prospecting daily to find a buyer for your home
- Aggressive follow-up with prospective buyers
- Hold a broker Open House 14. Advertise
- Weekly check-in calls to “stay on the pulse”
- Automatically via email, send you all feedback from showings
- Automatically email new listings, pendings and sales in your neighborhood
- Review pricing weekly and notify you immediately of market change
